Economics

Indiana Go, Student Contributor

It is estimated that the networth of the richest man in the world is about 110 billion dollars. With others close behind him worth between 1-100 billion dollars (Clifford). There are also an estimated 795 million people starving in the world today, a large percentage of that, children (World). On average, the richest people in the world own 9 houses each. The global homeless rate is at nearly 154 people while almost a billion people worldwide lack adequate housing (Admin). There should not be such an imbalance in income between anybody. While there is anybody in the world who doesn’t have enough food to feed their families, there should be no one who has so much money they couldn’t possibly spend it all. 

The first reason is stated in the introduction. In 2008, the New York Times said that it would take about 30 billion dollars a year to end the global food crisis. Over time, this amount would obviously change. Something as simple as taxing the wealthiest among us could give governments more money to spend on better food programs. Today, many billion-dollar companies and people don’t pay nearly enough taxes compared to their income. 

Some would argue that “they worked for their money, they can spend it however way they want.” I do not believe this is true. Not to say that these people didn’t work hard, because many of them did. But, you don’t work hard enough, or long enough to justify earning 50 billion dollars a year. It simply isn’t possible. 

Many of these companies also benefit over the unfair working conditions of their employees.They benefit from the near-enslavement of workers in 3rd world countries. Ways to solve this would be to tax these companies way more and to stop allowing them to get through loopholes in order to pay less money, and to require them to give better benefits and pay to their workers.  

Some might say that this is impossible, that creating a fair and equal balance between all people will never happen. They’re right that it is difficult, but If governments and people work against these corporations and their leaders, hopefully change can be made.

 

Works Cited

Admin. “Global Homelessness Statistics.” Homeless World Cup, Homeless World Cup, 19 Dec. 2019, homelessworldcup.org/homelessness-statistics/.

Clifford, Catherine. “How Much Richer the Top 10 Billionaires Are Now Compared to the Beginning of the Decade.” CNBC, CNBC, 26 Dec. 2019, www.cnbc.com/2019/12/24/net-worths-of-richest-people-in-the-world-in-2010-and-now.html.

“World Hunger Statistics.” Food Aid Foundation, www.foodaidfoundation.org/world-hunger-statistics.html.